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Gtech sales up slightly, parent revenue surges

LOTTOMATICA Group, parent of Providence-based GTECH, reported an increase of earnings before interest, taxes, depreciation and amortization of 19.5 percent, to 970 million euros ($1.25 billion at the Jan. 2, 2012, exchange rate of $1.2935 per euro), in a preliminary 2011 report on Tuesday prior to the companyâ€™s scheduled full earnings release on March 8.

COURTESY GTECH

Posted:
Tuesday, February 14, 2012 1:12 pm

By PBN Staff

ROME â€“ Lottomatica Group, parent of Providence-based GTECH, reported an increase of earnings before interest, taxes, depreciation and amortization of 19.5 percent, to 970 million euros ($1.25 billion at the Jan. 2, 2012, exchange rate of $1.2935 per euro), in a preliminary 2011 report on Tuesday prior to the companyâ€™s scheduled full earnings release on March 8.

The company reported that revenue at GTECH increased 14.9 million euros, or 1.8 percent, to 857 million euros ($1.1 billion) for the year. Across all its business segments, Lottomatica reported a revenue gain of 28.5 percent to 2.97 billion euros ($3.84 billion), with nearly all that gain coming in its Italian operations.

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